ABSTRACT
In 1991, while the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) negotiations was still under way, the US Council for International Business (USCIB) began working on the idea of a ‘free investment’ agreement that would enable US corporations to unconditionally invest their money in any sector of any country, and for those investments to be protected. ‘For US multinationals, the new world trading order was being increasingly conceptualized in terms of investment flows rather than movement of goods.’3
